KUALA LUMPUR: Cahya Mata Sarawak Bhd
's (CMS) proposal to dispose of its stake in OM Sarawak for US$120mil is a fair deal and will unlock the value of its investment and free up working capital, says TA Securities Research.
According to the research firm's back-of-the-envelope calculation, the cash consideration of US$120mil will translate into an acquisition price-earnings ratio of about six times FY21 earnings.
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